Plains All American Pipeline (NYSE:PAA) Price Target Raised to $18.00 at TD Securities

Plains All American Pipeline (NYSE:PAA) had its price objective upped by TD Securities from $17.00 to $18.00 in a research note published on Monday, BayStreet.CA reports. They currently have a hold rating on the pipeline company’s stock.

Several other brokerages also recently issued reports on PAA. Citigroup upped their target price on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a neutral rating in a research note on Friday, March 1st. StockNews.com downgraded shares of Plains All American Pipeline from a strong-buy rating to a buy rating in a research note on Thursday, May 2nd. UBS Group upped their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a buy rating in a research note on Friday, April 12th. Stifel Nicolaus upped their target price on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Finally, Truist Financial upped their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a buy rating in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline presently has an average rating of Moderate Buy and a consensus price target of $19.08.

Plains All American Pipeline Trading Up 0.2 %

NYSE:PAA opened at $17.64 on Monday. Plains All American Pipeline has a one year low of $12.50 and a one year high of $19.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. The company’s 50-day simple moving average is $17.40 and its 200 day simple moving average is $16.16. The firm has a market capitalization of $12.37 billion, a P/E ratio of 12.23 and a beta of 1.58.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. Plains All American Pipeline’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. As a group, analysts forecast that Plains All American Pipeline will post 1.32 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 annualized dividend and a dividend yield of 7.20%. Plains All American Pipeline’s payout ratio is 109.48%.

Institutional Trading of Plains All American Pipeline

Hedge funds and other institutional investors have recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Plains All American Pipeline in the first quarter worth $28,000. CENTRAL TRUST Co boosted its position in shares of Plains All American Pipeline by 212.5% during the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 1,700 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of Plains All American Pipeline during the fourth quarter worth $39,000. Scarborough Advisors LLC bought a new position in shares of Plains All American Pipeline during the fourth quarter worth $46,000. Finally, Briaud Financial Planning Inc bought a new position in shares of Plains All American Pipeline during the third quarter worth $58,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.